BGS Short Squeeze

Better than expected earnings, 10% dividend, and positive divergence.

Expecting similar action to Kellogd today.

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Just realized they have already declared dividend Sept 30, 47 cents, 10.4% yield.

Their cash flow supports the dividend payment, might consider holding this for a while....

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105% institutional ownership, 42% of float shorted.

$19.5 AH, I think it opens in that area, drops a little to $19, then heads up to $20+ on a massive short squeeze. Will add if it falls below $19.

I think it fills the gap above by next earnings, but my target for now is $21.5.

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WIth futures scrolling down, and the markets more than likely heading down tomorrow, this is the only long trade I like for tomorrow.

In case you haven't done the math yet, there are so many short sellers that institutional ownership is over 100%. They are going to be scrambling for shares to buy tomorrow. Plus interest rate cuts usually favor dividend paying companies.

The market went down in Nov, BGS went up, I expect the same in Aug.

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If you bought premarket at $19 like you should have, then I suggest dumping half here and letting the rest ride to $21.5 or $23 depending on your level of patience. If you're day trading, it's probably tapped out here.

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27M shares short and onlt 1.7M shares traded today. I guesss the rest of them want to pay dividends on tehir borrowed shares next month.

Show me another stock that's got 25M buyers lined up. This and SMSI are my only long positions while we ride out this market drop.

Trade stängt manuellt:

Crap's not going anywhere and it's tying up my money. Sold it, for less profit than I'd like but whatever. Can't lose by making money.